A takeover of Biogen would be the biggest of a biotech company
since 2008, and one of the largest takeovers by a drug
company on record.

RBC's Michael Yee predicted in a note on Tuesday that a takeover
could value Biogen at $375 to $475 a share. It was
trading around $300 a share before the news broke earlier on
Tuesday.

Investing.com

Cambridge, Massachusetts-based Biogen makes drugs that
treat multiple sclerosis and hemophilia, and its main focus
overall is on neurological and autoimmune diseases, as well as
rare diseases.

As
Business Insider's Lydia Ramsey reports, Biogen on
Monday officially got the rights to sell a promising spinal
muscular atrophy drug globally. The drug,
nusinersen, succeeded in a late-stage trial, the company
said.

Drugmakers embarked on a record deal-making spree in 2014
and 2015, as they sought to rebuild drug pipelines as older drugs
lost patent protection.

Several of the largest biotech takeovers of those years
became fiercely competitive as huge drugmakers tapped low-cost
debt for the spending.

A representative for Allergan said that the company "does not
comment on market rumor or speculation." A representative for
Merck also declined to comment. Biogen could not immediately be
reached for comment.